IQIYI (NASDAQ:IQ) Earns “Hold” Rating from China Renaissance Securities

China Renaissance Securities restated their hold rating on shares of IQIYI (NASDAQ:IQ) in a report published on Tuesday, The Fly reports.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of IQIYI from a buy rating to a hold rating in a report on Wednesday, July 31st. Credit Suisse Group reissued an outperform rating on shares of IQIYI in a report on Wednesday, July 17th. JPMorgan Chase & Co. started coverage on shares of IQIYI in a report on Friday, August 16th. They set an underweight rating and a $14.00 price objective for the company. KeyCorp started coverage on shares of IQIYI in a report on Monday, July 29th. They set a sector weight rating and a $21.00 price objective for the company. Finally, Loop Capital started coverage on shares of IQIYI in a report on Monday, June 3rd. They set a hold rating and a $20.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $21.40.

Shares of IQ stock opened at $18.18 on Tuesday. IQIYI has a 52-week low of $14.35 and a 52-week high of $32.46. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $12.97 billion, a PE ratio of -7.36 and a beta of 2.99. The stock has a fifty day simple moving average of $18.46 and a two-hundred day simple moving average of $21.16.

IQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Monday, August 19th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.10. IQIYI had a negative return on equity of 57.18% and a negative net margin of 38.28%. The business had revenue of $7.11 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the prior year, the business posted ($0.45) EPS. IQIYI’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, sell-side analysts forecast that IQIYI will post -1.91 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Joseph P. Lucia & Associates LLC bought a new position in shares of IQIYI in the 1st quarter valued at about $25,000. AdvisorNet Financial Inc bought a new stake in IQIYI in the second quarter worth about $25,000. Intercontinental Wealth Advisors LLC bought a new stake in IQIYI in the first quarter worth about $40,000. Resources Investment Advisors LLC. lifted its stake in IQIYI by 415.7% in the second quarter. Resources Investment Advisors LLC. now owns 1,805 shares of the company’s stock worth $37,000 after purchasing an additional 1,455 shares during the last quarter. Finally, Quadrant Capital Group LLC bought a new stake in IQIYI in the first quarter worth about $59,000. 20.24% of the stock is owned by hedge funds and other institutional investors.

About IQIYI

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.

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Analyst Recommendations for IQIYI (NASDAQ:IQ)

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